Buyer here. Booked one unit of Block A. I got L/O already from a bank. The loan amount is the price after 10% discount (as informed by SDB). You guys need to apply loan from SDB's panel bankers cos they already have this arrangement with SDB. The interest rate is also quite good. And of course you need to furnish the confirmation letter that you have paid the downpayment i.e. 8k to SDB.

Cimb bro, I used to have a loan with them before and quite satisfied with their service. Maybank is their primary panel bank.

threeeye, I dunno whether SDB has gotten the AP yet for this project. However, as per the Option Letter aka Offer to Purchase letter that the buyer needs to sign with SDB (when booking a unit), the offer to purchase is valid for a period of 6 mths with an automatic extension period of 3 months. This means the SPA needs to be executed within 9 mths from the date of the Option Letter. Otherwise, the buyer gets back the 8k deposit with interest. This means SDB needs to get the AP during the period, otherwise the SPA cannot be executed. It protects the buyer's interest as well.

Yes, the purchase comes with DIBS and all legal fees (SPA & loan agreement) and (most importantly) the stamp duty on loan agreement are absorbed by the developer.

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Added on September 22, 2012, 6:11 pmAs I mentioned in my previous post, if you get a loan from one of the panel bankers, the loan amount is 90% of the actual selling price. Developer will pay 10%, buyer does not need to pay anything. So the SPA selling price should state the price before discount price.

This post has been edited by Positf: Sep 22 2012, 06:11 PM

So with the AP they should launch officially now rite? Anyone knows what's the current take up status?

My SA said Block C about 90% sold and Block A about 55% sold todate. Block B not yet launched. It's the bigger units (>2,000 sqft) which are slow to be taken up.

Yup, S&P can be signed already.